News stories from Wednesday November 15, 1972
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Radio Havana broadcast Cuba's offer to negotiate an anti-hijacking agreement; the State Department said that long-stalled talks may be resumed. But Cuba, in returning American criminals to the U.S., would demand the return of Cuban refugees to Cuba.
Air Line Pilots Association president John O'Donnell has threatened a worldwide pilots strike to protest hijackings. O'Donnell said he would shut down the air industry if it were in his power. He stated that the Southern Airways pilot had almost convinced the hijackers to release the passengers when "outside actions" caused the hijackers to demand a takeoff instead. O'Donnell said that the pilot should be the only decision maker in those situations.
[CBS] - The nation's balance of payments deficit rose sharply in the third quarter; the Commerce Department blamed the floating of the British pound. Industrial production was up. Price Commission chairman Jack Grayson told Congress that wage-price controls have cut the rate of inflation. Grayson said it's up to the President and Congress to decide when economic controls should be lifted. [CBS]
- Alabama Governor George Wallace concedes that his chances of walking again are remote, but said he can accept that. Wallace also said that the Democratic party should be restructured, and the national committee needs to be overhauled. He believes that Jean Westwood should resign as chairman. [CBS]
- Senator Thomas Eagleton claimed that some members of George McGovern's staff tried to make him the scapegoat for the defeat of the McGovern-Shriver ticket. Speaking at the Associated Press's convention of managing editors, Eagleton said that McGovern staffers treated him unfairly. [CBS]
- President Nixon is conferring at Camp David, Maryland, with Vice President Agnew to discuss reorganization plans for their second term. [CBS]
- British Prime Minister Edward Heath will visit Belfast under tight security. Heath suspended Northern Ireland's government last March, ending 50 years of Protestant rule. Militant Protestant organizations then sprung up, prompted by the fear that Britain will sell them out and force reunification with the Catholic Irish Republic. British soldiers now fight not only the Irish Republican Army but also the Ulster Defense Association. Bombings by terrorists have demolished much of Belfast. Business is awful; people do not venture out at night. [CBS]
- Early Hollywood depicted blacks as shiftless and lazy. Black movie superheroes are now emerging, and black movies for black audiences have become a lucrative business. However, Roy Innis of the Congress of Racial Equality criticizes both the "inferior nigger" and "super nigger" image of blacks in movies. Actor Jim Brown wants total integration and a reduction of racial comparisons. Actor Ron O'Neal noted that "Super Fly" was made by black film crews and filmed in a black ghetto, reversing the normal trend of whites soaking blacks at the box office. But actor William Marshall fears making the black dope pusher a hero, as is done in "Super Fly". [CBS]
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Stock Market Report
Dow Jones Industrial Average: 998.42 (-4.74, -0.47%)
Arms Index is the ratio of volume per declining issue to volume per advancing issue; a figure below 1.0 is bullish. | |||||||||||||||
| Market Index Trends | |||
|---|---|---|---|
| Date | DJIA | S&P | Volume* |
| November 14, 1972 | 1003.16 | 114.95 | 20.20 |
| November 13, 1972 | 997.07 | 113.90 | 17.21 |
| November 10, 1972 | 995.26 | 113.73 | 24.36 |
| November 9, 1972 | 988.26 | 113.50 | 17.04 |
| November 8, 1972 | 983.74 | 113.35 | 24.62 |
| November 6, 1972 | 984.80 | 113.98 | 21.33 |
| November 3, 1972 | 984.12 | 114.22 | 22.51 |
| November 2, 1972 | 973.06 | 113.23 | 20.69 |
| November 1, 1972 | 968.54 | 112.67 | 21.36 |
| October 31, 1972 | 955.52 | 111.58 | 15.45 |